Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New Investment in Alkermes plc $ALKS

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Alkermes plc (NASDAQ:ALKS) in the third quarter, Holdings Channel reports. The firm purchased 21,081 shares of the company’s stock, valued at approximately $632,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Assetmark Inc. grew its position in Alkermes by 933.8% during the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after buying an additional 747 shares during the period. Hantz Financial Services Inc. lifted its position in shares of Alkermes by 395.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock valued at $37,000 after buying an additional 989 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Alkermes in the 2nd quarter valued at about $49,000. Osaic Holdings Inc. boosted its position in Alkermes by 56.4% during the second quarter. Osaic Holdings Inc. now owns 1,945 shares of the company’s stock worth $56,000 after purchasing an additional 701 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Alkermes by 163.3% in the third quarter. Bessemer Group Inc. now owns 2,222 shares of the company’s stock valued at $67,000 after purchasing an additional 1,378 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Performance

NASDAQ ALKS opened at $32.19 on Tuesday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.32. The company has a fifty day moving average of $31.28 and a 200-day moving average of $30.12. The company has a market capitalization of $5.32 billion, a P/E ratio of 15.94 and a beta of 0.49.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ALKS shares. Jefferies Financial Group set a $56.00 price objective on shares of Alkermes and gave the company a “buy” rating in a research note on Tuesday, October 28th. Needham & Company LLC raised their price objective on shares of Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Alkermes from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Wolfe Research started coverage on shares of Alkermes in a report on Monday. They issued an “outperform” rating and a $45.00 price target for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alkermes in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.00.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $33.93, for a total transaction of $305,370.00. Following the transaction, the executive vice president directly owned 57,740 shares of the company’s stock, valued at approximately $1,959,118.20. This trade represents a 13.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Shane Cooke sold 61,200 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $34.57, for a total value of $2,115,684.00. Following the completion of the sale, the director directly owned 103,744 shares of the company’s stock, valued at approximately $3,586,430.08. This represents a 37.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 148,148 shares of company stock worth $5,028,378 over the last quarter. Corporate insiders own 4.40% of the company’s stock.

Alkermes Profile

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.